Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Tranz Rail Committed To Negotiation Process

Tranz Rail Remains Committed To Negotiation Process

Tranz Rail Managing Director Michael Beard said today that he was surprised by the Wellington Regional Council’s breach of protocol in negotiations over the sale of the Wellington Tranz Metro Network.

Mr Beard said when he left negotiations yesterday (Monday) it was with an undertaking to discuss with the Tranz Rail Board the WRC proposal to remove the requirement for an indicative bid from the negotiation process.

“I had agreed to take that request forward to a Board sub-committee meeting and come back with a response,” said Mr Beard. “I was therefore a little surprised to see the Council’s statement today. Commercial negotiations of this kind are not usually carried out in a public forum and it is certainly not Tranz Rail’s intention to carry on negotiations in this way.

“However, in good faith, I will take the proposal forward to the Board sub committee.”

Mr Beard said Tranz Rail accepted that the Council felt it was under some pressure because of the public funds involved. He said Tranz Rail would try and find ways to work with the Council to address the pressures Council felt it was under within a normal commercial negotiation process.

“However, Council must also recognise that we operate under similar commercial pressures and there are certain protocols that we would expect to be rigorously observed in the course of any commercial transaction of this scale.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Budget Policy Statement: 'Wellbeing Of NZers At The Heart Of Budget Priorities'

“We want a wellbeing focus to drive the decisions we make about Government policies and Budget initiatives. This means looking beyond traditional measures - such as GDP - to a wider set of indicators of success,” Grant Robertson said. More>>


Short Of 2017 Record: Insurers Pay $226m Over Extreme Weather

Insurers have spent more than $226 million this year helping customers recover from extreme weather, according to data from the Insurance Council of NZ (ICNZ). More>>

Environment Commissioner: Transparent Overseer Needed To Regulate Water Quality

Overseer was originally developed as a farm management tool to calculate nutrient loss but is increasingly being used by councils in regulation... “Confidence in Overseer can only be improved by opening up its workings to greater scrutiny.” More>>


Deal Now Reached: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>